Rovi Corporation announced that it has signed a multi-year licensing agreement with LG Electronics.
For more information visit: www.rovicorp.com
Unedited press release follows:
Rovi, LG Electronics Enter License Agreement
Companies End Patent Disputes, Begin New Era of Cooperation
SEOUL, Korea and SANTA CLARA, Calif. 3/18/2013 – Rovi Corporation (NASDAQ: ROVI) and LG Electronics, Inc. (KSE: 066570.KS) have agreed to settle their patent disputes by entering into a multi-year license agreement.
The agreement grants LG a license to Rovi’s patent portfolio for use across all of LG’s product lines. In addition, the agreement provides LG a broad right to include certain Rovi solutions in LG consumer electronics products. Terms of the agreement were not disclosed.
“We’re pleased to renew our business relationship with LG,” said Tom Carson, CEO of Rovi Corporation. “From Rovi’s standpoint, the opportunity to have our technology adopted by a leading major brand like LG will further enhance consumers’ ability to connect to, discover and enjoy entertainment content on multiple devices.”
Wayne Park, CEO of LG Electronics USA, said, “Putting aside our differences is in the best interest of LG customers. By combining LG’s world-leading innovations across multiple categories with electronic program guide and other technologies from Rovi, LG will bring a new level of interaction and enjoyment to content-hungry consumers.”
About LG Electronics, Inc.
LG Electronics Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 93,000 people working in over 120 operations around the world. With 2012 global sales of $45 billion, LG comprises four business units – Home Entertainment, Mobile Communications, Home Appliances, and Air Conditioning & Energy Solutions. LG is one of the world’s leading producers of flat panel TVs, mobile devices, air conditioners, washing machines and refrigerators. For more information, please visit www.LGnewsroom.com.
About Rovi Corporation
Rovi powers the discovery, delivery, display and monetization of digital entertainment. With innovative technology solutions for consumer electronics manufacturers, service providers, content producers, advertisers, retailers and websites, Rovi connects people and the entertainment they love. The company holds over 5,000 issued or pending patents worldwide and is headquartered in Santa Clara, California. More information about Rovi can be found at rovicorp.com.